MTN Group Expects Swing to Positive Earnings Per Share in 1st Half

By Razak Musah Baba Features Dow Jones Newswires

MTN Group Ltd. (MTN.JO) expects to report positive earnings per share during the first half of the year.

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The South Africa-based mobile telecommunications company said Thursday that for the six months ended June 30, basic headline earnings per share is expected to be between 210 cents and 230 cents and basic earnings per share will be between 280 cents and 300 cents. This compares with a headline loss per share of 271 cents and attributable loss per share of 301 cents reported in the prior comparable period.

MTN said the negative performance in the prior comparable period was mainly a result of non-recurring costs, including the Nigeria regulatory fine which was fully expensed in prior periods.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

July 27, 2017 01:48 ET (05:48 GMT)